Banks may reassess US commercial property in 2011

From Reuters: When it comes to U.S. commercial real estate loans, banks may get real next year. The practice of extending maturing loans and pretending they are current when they cannot be refinanced may end next year, according to U.S. commercial real estate experts at the New York University annual Conference on Capital Markets in Real Estate in New York.
Since credit seized up about two years ago, banks and other lenders have been playing “extend and pretend” extending maturing loans instead of taking losses by foreclosing when a borrower cannot get a replacement loan……………………………………….Full Article: Source